Prime Capital Investment Advisors LLC Lowers Holdings in Citigroup Inc. (NYSE:C)

Prime Capital Investment Advisors LLC reduced its stake in shares of Citigroup Inc. (NYSE:CFree Report) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,610 shares of the company’s stock after selling 849 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Citigroup were worth $683,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in C. Panagora Asset Management Inc. grew its stake in shares of Citigroup by 24.5% in the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock worth $1,589,000 after purchasing an additional 5,853 shares in the last quarter. Zions Bancorporation N.A. grew its stake in shares of Citigroup by 50.5% in the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock worth $334,000 after purchasing an additional 2,100 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Citigroup by 20.8% in the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock worth $282,000 after purchasing an additional 907 shares in the last quarter. Ergoteles LLC bought a new position in shares of Citigroup in the first quarter worth $761,000. Finally, Halbert Hargrove Global Advisors LLC grew its stake in shares of Citigroup by 7.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock worth $218,000 after purchasing an additional 268 shares in the last quarter. 69.26% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of C stock opened at $53.93 on Tuesday. The stock has a 50 day moving average of $52.15 and a two-hundred day moving average of $45.84. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $57.95. The company has a market capitalization of $103.22 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.47 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:CGet Free Report) last released its quarterly earnings results on Friday, January 12th. The company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($1.89). Citigroup had a net margin of 5.88% and a return on equity of 6.49%. The business had revenue of $17.44 billion for the quarter, compared to analyst estimates of $18.71 billion. During the same period in the prior year, the business earned $1.10 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities analysts expect that Citigroup Inc. will post 5.94 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 5th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $2.12 annualized dividend and a dividend yield of 3.93%. Citigroup’s dividend payout ratio (DPR) is currently 53.13%.

Analysts Set New Price Targets

Several analysts have recently weighed in on C shares. HSBC upgraded Citigroup from a “hold” rating to a “buy” rating and upped their price objective for the company from $42.00 to $61.00 in a report on Tuesday, January 9th. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a report on Wednesday, January 3rd. Piper Sandler upped their price objective on Citigroup from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, January 16th. Oppenheimer upped their target price on Citigroup from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, Daiwa Capital Markets raised Citigroup from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Citigroup currently has an average rating of “Hold” and an average target price of $56.62.

Read Our Latest Stock Analysis on C

Citigroup Company Profile

(Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.

Further Reading

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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